Rising Debt and its Potential Consequences: Canada’s New Normal?
We need to understand where we are in the debt super cycle to inform our investment decision making.
The Art of Boring™ was created for curious and passionate investors. We share strategies, frameworks, and insights to help readers and listeners make better investment decisions. Our aim? To provide some bottom-up, long-term investing signal to cut through the short-term noise.
We need to understand where we are in the debt super cycle to inform our investment decision making.
Why management teams matter, energy companies rarely meet our investment criteria, and JPMorgan and State Street differ from many regional banks.
Recent AI breakthroughs are underscoring the power of the centaur model—humans + machines—creating something more potent than either model operating independently.
Why genuine knowledge building and the ability to learn effectively in investing is difficult, and how we try to work around those challenges.
The major themes of the quarter, where we are in the interest rate hike cycle, and our thoughts on the recent banking crisis.
This episode, we discuss our seven-point management assessment framework (with examples), our risk management approach, and overall thoughts on energy.
In our view, market participants systematically underestimate the importance of vulnerabilities while correspondingly overestimating the importance of triggers. Why?
Digging into last year’s performance drivers, the current opportunity set, and benefits of resuming boots-on-the-ground research.
The nuanced impacts of inflation to companies’ balance sheets that investors might be missing.
Chief Investment Officer Paul Moroz shares takeaways from the Research team's annual post-mortem discussions.
Portfolio Manager Crista Caughlin walks listeners through the tumultuous bond market experiences of 2022 and outlines three main economic scenarios the team is monitoring for 2023.
Some of the main challenges facing the continent, what we gleaned from visiting over 45 companies, and ESG considerations that are front of mind for major European investment firms.
A review of last quarter, the major themes and takeaways from 2022, and what’s on the horizon for the new year.
We need to understand where we are in the debt super cycle to inform our investment decision making.
Why management teams matter, energy companies rarely meet our investment criteria, and JPMorgan and State Street differ from many regional banks.
Recent AI breakthroughs are underscoring the power of the centaur model—humans + machines—creating something more potent than either model operating independently.
Why genuine knowledge building and the ability to learn effectively in investing is difficult, and how we try to work around those challenges.
The major themes of the quarter, where we are in the interest rate hike cycle, and our thoughts on the recent banking crisis.
This episode, we discuss our seven-point management assessment framework (with examples), our risk management approach, and overall thoughts on energy.
In our view, market participants systematically underestimate the importance of vulnerabilities while correspondingly overestimating the importance of triggers. Why?
Digging into last year’s performance drivers, the current opportunity set, and benefits of resuming boots-on-the-ground research.
The nuanced impacts of inflation to companies’ balance sheets that investors might be missing.
Chief Investment Officer Paul Moroz shares takeaways from the Research team's annual post-mortem discussions.
Portfolio Manager Crista Caughlin walks listeners through the tumultuous bond market experiences of 2022 and outlines three main economic scenarios the team is monitoring for 2023.
Some of the main challenges facing the continent, what we gleaned from visiting over 45 companies, and ESG considerations that are front of mind for major European investment firms.
A review of last quarter, the major themes and takeaways from 2022, and what’s on the horizon for the new year.
Greece has been struggling with some manner of financial crisis for almost five years. The situation has become worse of late due to the fallout from the January 2015 election when the leftist party Syriza rose to power under an anti-austerity mandate.
The Chinese stock market has been very hot as of late. Many Chinese indices are up dramatically over the last twelve months.
This was my first lesson in India. When you arrive in the country, you don’t just land at the airport, India lands on you.
If a person's legacy is to be measured by his contributions to society, then Lee Kuan Yew ranks among the great heroes.
The Oilers allowed Gretzky to play to his strengths. In the language of our firm, they allowed him to focus on his “Area of Genius.”
When you say yes to doing something you’re not good at, you are also saying no to something you are.
“Just because something isn’t a lie does not mean it isn’t deceptive. A liar knows that he is a liar, but one who speaks mere portions of truth in order to deceive is a craftsman of destruction.”
For a country whose population is smaller than that of NYC, the Kingdom of Denmark is getting a lot of press these days.
There is something surreal about cycling alone on a mountain at 3:00 A.M. The trees loom in the darkness, lit only in passing by the lights on your helmet and handlebars.
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help...”
As an avid basketball fan, I have been enjoying the recent success of the Golden State Warriors, who currently hold the best record in the NBA’s Western Conference.
Financial markets function relatively well most of the time; it is only on occasion that markets break, the system goes awry and crises ensue.
Greece has been struggling with some manner of financial crisis for almost five years. The situation has become worse of late due to the fallout from the January 2015 election when the leftist party Syriza rose to power under an anti-austerity mandate.
The Chinese stock market has been very hot as of late. Many Chinese indices are up dramatically over the last twelve months.
This was my first lesson in India. When you arrive in the country, you don’t just land at the airport, India lands on you.
If a person's legacy is to be measured by his contributions to society, then Lee Kuan Yew ranks among the great heroes.
The Oilers allowed Gretzky to play to his strengths. In the language of our firm, they allowed him to focus on his “Area of Genius.”
When you say yes to doing something you’re not good at, you are also saying no to something you are.
“Just because something isn’t a lie does not mean it isn’t deceptive. A liar knows that he is a liar, but one who speaks mere portions of truth in order to deceive is a craftsman of destruction.”
For a country whose population is smaller than that of NYC, the Kingdom of Denmark is getting a lot of press these days.
There is something surreal about cycling alone on a mountain at 3:00 A.M. The trees loom in the darkness, lit only in passing by the lights on your helmet and handlebars.
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help...”
As an avid basketball fan, I have been enjoying the recent success of the Golden State Warriors, who currently hold the best record in the NBA’s Western Conference.
Financial markets function relatively well most of the time; it is only on occasion that markets break, the system goes awry and crises ensue.
A review of the quarter: the ongoing impacts of COVID-19 on economic activity, continuing fiscal and monetary stimulus, and the run-up to the U.S. election.
Crista Caughlin, lead portfolio manager of Mawer’s fixed income strategies, discusses potential impacts of increasing global debt in a low interest rate environment and the three economic scenarios top of mind for the bond team.
CIO Paul Moroz discusses resilience, global monetary policy, and current themes such as TikTok and a potential “technological iron curtain.”
Building resiliency while finding opportunities in emerging markets.
A deep dive into the themes, fundamentals, and opportunity sets in the payments industry.
The impacts, risks, and potential opportunities from the COVID-19 crisis fallout on the Canadian small cap universe, and why valuations are ultimately a “blunt tool.”
A review of the quarter: a significant rebound in markets, the potential impacts of continuous monetary and fiscal stimulus, and deglobalization.
Why the current market environment “feels like 2030 is happening in 2020,” our perspective on the recent market recovery, and more.
The implications of cloud migration for enterprises, investors, and business models.
Why the strategy was created, how it was launched, and some holding examples.
Deputy CIO Christian Deckart discusses natural contradictions in the portfolio and how the team plays “intellectual best ball.”
Exploring the why behind the FAANG’s outsized stock returns and the overall challenges of valuating tech companies.
A review of the quarter: the ongoing impacts of COVID-19 on economic activity, continuing fiscal and monetary stimulus, and the run-up to the U.S. election.
Crista Caughlin, lead portfolio manager of Mawer’s fixed income strategies, discusses potential impacts of increasing global debt in a low interest rate environment and the three economic scenarios top of mind for the bond team.
CIO Paul Moroz discusses resilience, global monetary policy, and current themes such as TikTok and a potential “technological iron curtain.”
Building resiliency while finding opportunities in emerging markets.
A deep dive into the themes, fundamentals, and opportunity sets in the payments industry.
The impacts, risks, and potential opportunities from the COVID-19 crisis fallout on the Canadian small cap universe, and why valuations are ultimately a “blunt tool.”
A review of the quarter: a significant rebound in markets, the potential impacts of continuous monetary and fiscal stimulus, and deglobalization.
Why the current market environment “feels like 2030 is happening in 2020,” our perspective on the recent market recovery, and more.
The implications of cloud migration for enterprises, investors, and business models.
Why the strategy was created, how it was launched, and some holding examples.
Deputy CIO Christian Deckart discusses natural contradictions in the portfolio and how the team plays “intellectual best ball.”
Exploring the why behind the FAANG’s outsized stock returns and the overall challenges of valuating tech companies.